BERLIN (Reuters) -More than 80% of German companies in manufacturing and the information technology industry expect a negative impact on the German economy from tariffs imposed by the U.S., according to a survey by the Leibniz Centre for European Economic Research ZEW. The survey, seen by Reuters on Tuesday, showed that 20% of the 800 […]
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Majority of German firms fear negative effects of Trump tariffs, ZEW finds
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BERLIN (Reuters) -More than 80% of German companies in manufacturing and the information technology industry expect a negative impact on the German economy from tariffs imposed by the U.S., according to a survey by the Leibniz Centre for European Economic Research ZEW.
The survey, seen by Reuters on Tuesday, showed that 20% of the 800 companies surveyed now even fear “very negative” effects on the economy from the policies of the new U.S. government.
In industry, 46% of the companies expect negative effects on their business, with as many as 64% fearing negative consequences for the entire sector, the ZEW survey showed.
Half of the companies in industry with U.S. exports fear that Donald Trump’s presidency will have a negative impact on them. At 42%, companies without exports to the United States also expect negative effects, according to the ZEW survey.
(Reporting by Rene Wagner, writing by Maria Martinez, Editing by Miranda Murray)